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The Johan Sverdrup Oil Field development has been given the green light and major contracts have been awarded. Johan Sverdrup is among the largest oil fields on the Norwegian shelf, and will at peak contribute with 25% of the production from the Norwegian shelf.

Production Volume: In 2010, production of the Karachaganak field averaged 228 kbbl/d of liquids and 812 mmcf/d of natural gas

Description

Situated onshore in the western part of the country, Karachaganak is a giant onshore hydrocarbon deposit that produces oil, condensate and natural gas, with recoverable reserves estimated at 5 billion boe.

The operations carried out by the Karachaganak Petroleum Operating BV (KPO) consortium are regulated by a 40-year Production Sharing Agreement that expires in 2037.

2011 - the Karachaganak Petroleum Operating B.V consortium signed an agreement with the Republic of Kazakhstan for entry of the national oil company KazMunaiGaz (KMG) into the consortium

2015 - Gas sales agreement with Gazprom extended until 2038

Geology

Other Information

Approximately two-thirds of the liquids produced are stabilised at the Karachaganak Processing Complex (KPC) – with a capacity of over 150,000 barrels/day – before they are sent to western markets through the Caspian Pipeline Consortium Oil Pipeline and, since 2006, also through the Atyrau-Samara pipeline, which is connected to the Russian export system. The non-stabilised liquids and the gas that is not re-injected into the deposits are sold on the local Russian market through the Orenburg terminal.